24 and hit 100k net worth today and I feel no different. This isn’t a weird flex, I just realized that money is not everything and cannot buy you happiness, being financially stable is important con.

likefunny
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You saw this one coming and it is indeed coming; weird flex, but okay

likefunnyhelpful

But this isn’t a “weird” flex. If anything it’s just a flex. “Weird flex” is supposed to actually be something weird

like

100k doesn’t mean much. But what’s important is that you’ve gotten in a habit of saving and living below your means and that will bring you the freedom to pursue things you really care about. My advice to you, is to realize yes the money in the bank doesn’t make me happy per say, but would you have been happier if you’d spent it? I doubt it. One day life will throw you some curve balls, having a fat bank account will help you cope with them. It’s sad in today’s society we rarely value frugality. But I’ll say it: Good job. Keep it up.

likesmart
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Oh man so different on my side. When my salary hit 115k recently i realized wow i became the richest person in my family. (I am a first generation)

Also, be cautious of the rat race. Just because you make more doesn’t mean you should spend more. You become less and less flexible when your cost increase with your net worth

likesmart

Agreed. I too have become the highest earning individual in the family. But it's meh nothing changes

But life is long, and there’s so much more important things to care about. I say this from a place of privilege, but it’s been an eye opening day for me. Hope everyone’s Friday is going well 🙂

likeuplifting

Whatever OP. When I hit $100K NW for the first time I called my mom and celebrated. It's a meaningful milestone that you were able to save that much.

Also, every incremental milestone comes faster than the last.

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Shocked at the number of people in this thread who don’t know what net worth means

likefunny

Congrats OP, I still remember hitting my 100k mark and it was around the same age. At the point I think my yearly expense spend was 35k. The challenge is the rat race. The more money you have the higher your expense elevation. Finding your ideal band is the key. For example, I am 37 now and hit the 1MM net worth mark at 35, but my expense level has evened out at 85k/year since then. My ratios are great for savings and financial stability. My long term goal is to figure out passive income at 100k/year and then anything else is savings and fun

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Congrats!! Same age with negative net worth.

helpfulfunny

Net worth or income?

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BCG1 just to clarify, I grew up as a first gen with my father working 3 jobs, our concept of a family dinner was going to Taco Bell. I agree this is a milestone and I am very blessed but I’m just having a realization that having more money does not equal more happiness.

likesmart

I 💕 my peeps!

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I was really proud of being 23 with a 20k networth until I read this post 😥

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Exactly! Most of my friends are flying by the seat of their pants. Be proud you have to wherewithal to even considering saving at our age

18: $100M, 2 goldfish, half empty box of cereal, shake weight, 4 razor scooters, but have a 6 scooter garage, crippling self doubt, loneliness, but hey, we all gotta start somewhere

likefunny

Money doesn’t buy you happiness. It buys you freedom. The more money you have the more options you have in life. Choose wisely and you can have happiness.

likesmart

Nice job OP! Takes discipline to not go buy a bunch of shit. I hope to hit 100k in the next few months and I’ll be 25. Hoping to FIRE by 40.

likesmart

KPMG1, there’s no secret sauce. It’s math and achievable for some and not others in the same timeframe. (Income - Expense) x years. I started work at 21, had 20k in savings coming out of college. No student loans due to scholarships and working while at school. 80k starting salary NYC, 60k net post tax. 12k rent. 15k other. 33k savings year 1. 90k sal year 2, 30k savings y2. 100k sal year 3, 35k savings y 3. I was paying 1k a month in rent with two roommates in nyc. So the math and you can figure out your timeline. If you can’t reduce expenses then you’ll need more income through investments and side hustles

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You saved $100K? Or that’s your income and investments? Can someone help me out here?

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I would assume net worth equals the value of his combined assets - cash, home equity, taxable and non taxable investments, etc. would not include income.

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58, 15M with 3 kids no wife

likehelpful

45, one kid, dog, and cat. Not a wife (anymore) and SO happy w life. 😉 💃

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Read the Millionaire Next Door for good money management techniques

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Finally hit 30k at 30 years old. My father left my mom when I was in college at 19 and we had to support my mom because she can’t work.

likeuplifting

Married, 30’s, single earner, lots of kids. My net worth is basically zero.

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Same boat buddy. Same boat.

How do you start out of college with 20k in savings? That’s a different world

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